Sagging commodity prices are a big part of the current slump in the farm economy. Programs like ARC and PLC are available to help recover certain losses, but payouts can be tricky.
Researchers at the University of Illinois say current projections would not trigger PLC payments, and large yield losses would be required for ARC. Even if they triggered support for this year, payments for corn and soybean growers would not come in until October 2025.
Economists say with prices holding where they are, carefully managing farm finances will be critical moving forward.
